Search the Internet          Tips  Sites: Finance, Investment

No dubious investments in airline, says Jet

Jet Airways said on Friday that all its operations were totally above board and there were no 'dubious investments' in the company. Meanwhile, the government said that the law will take its own course into the allegations of the airline's links with the underworld.

Union Civil Aviation Minister Syed Shahnawaz Hussain, in reply to a question whether the government would withdraw the airline's security clearance, said in Mumbai: "I have no official communication in this matter. But there is a letter on my desk, which I have not yet read. However, the law will take its own course in this matter."

The minister said that the information regarding the matter was sourced to some media reports.

A section of the media had quoted an Intelligence Bureau report as claiming that the airline had been receiving large, 'dubious' investments from Gulf countries, which have been the theatre of operations for underworld dons Dawood Ibrahim and Chhota Shakeel.

According to the reports, the Union home ministry has asked the civil aviation ministry to examine if it could review the airline's security clearance in view of adverse remarks from the IB.

Referring to the reports, Jet Airways in a statement in New Delhi said that all investments in it "are completely transparent and have been verified by the agencies concerned in India. We have complied with all the rules, regulations and provisions of law."

ALSO READ:
The Rediff Budget Special
Money

Tell us what you think of this report